Broward County Commission Regular Meeting
Director's Name: Trevor M. A. Fisher
Department: Public Works Division: Real Property and Real Estate Development
Information
Requested Action
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MOTION TO APPROVE First Amendment to Lease Agreement between Broward County (County) and SPG @ Port 95, LLC (Landlord), to extend the term of the lease for an additional 60 month period beginning December 1, 2024, update the base rent schedule, modify the County’s estimated operating cost obligation, and modify certain notice requirements, for approximately 12,213 square feet of office and warehouse space located at 3402 SW 26th Terrace, Dania Beach, Florida, for continued use and occupancy by the Convention and Visitor’s Bureau; and authorize the Mayor and Clerk to execute same. (Commission District 6)
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Why Action is Necessary
Board of County Commissioners’ approval is required to approve and execute lease agreements and amendments to lease agreements.
What Action Accomplishes
Provides the County with an amendment to the Lease Agreement to extend the term of the lease for an additional 60 month period beginning December 1, 2024, update the base rent schedule, modify the County’s estimated operating cost obligation, and modify certain notice requirements, for office and warehouse space occupied by the Convention and Visitor’s Bureau.
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Previous Action Taken
None.
Summary Explanation/Background
PUBLIC WORKS DEPARTMENT/REAL PROPERTY AND REAL ESTATE DEVELOPMENT DIVISION AND GREATER FORT LAUDERDALE CONVENTION AND VISITOR’S BUREAU RECOMMENDS APPROVAL OF THE ABOVE MOTION.
On August 19, 2019, Broward County (“County”) and Merrill Industrial Center, Inc. (“Merrill”), entered into a Lease Agreement for approximately 12,213 square feet of office and warehouse space located at 3402 SW 26th Terrace, Building 2, Unit B - 6, 7, and 8, in Dania Beach, Florida (“Property”), for use and occupancy by the Convention and Visitor’s Bureau (“CVB”).
On June 22, 2021, Merrill transferred its interest in the Property to SPG @ Port 95, LLC (“Landlord”), assigned the Agreement to Landlord, and provided notice of such assignment to the County.
The Lease Agreement expires on November 30, 2024. The proposed First Amendment will extend the term of the lease for an additional 60 month period beginning December 1, 2024, update the base rent schedule, modify the County’s estimated operating cost obligation, and modify certain notice requirements.
The First Amendment has been reviewed and approved as to legal sufficiency by the Office of the County Attorney.
Source of Additional Information
Lary S. Mahoney, Director, Real Property and Real Estate Development Division, Public Works Department, (954) 357-7357
Trevor M. A. Fisher, P.E., MBA, Director, Public Works Department, (954) 357-6410
Cynthia Burroughs, Manager, Greater Fort Lauderdale Convention and Visitor’s Bureau, (954) 767-2463
Fiscal Impact
Fiscal Impact/Cost Summary
Funds for this expense will be allocated to Chartfield 11410-20501000-526010.